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Michael Hughes Of Marcus & Millichap Secures $8.7M Loan For Marshview Apartments Development In Sheboygan Falls
FINANCED
$8,700,000
Wisconsin
See Similar DealsDevelopment Site
Financed 08/26/2025
FINANCED
Michael Hughes Of Marcus & Millichap Secures $8.7M Loan For Marshview Apartments Development In Sheboygan Falls
Plank Trail Lane
See Similar DealsDevelopment Site
Financed 08/26/2025
Summary
WISCONSIN
Asset Type:Development Site
Transaction Type:Loan
The asset involved in this transaction is a development site located at Plank Trail Lane in Sheboygan Falls, WI. This property is earmarked for the construction of Marshview Apartments, a multifamily project consisting of 48 units, which will contribute to the housing availability in the area.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $8,700,000
- Loan Type: Construction
- Loan Term: 5 years
- Interest Rate: 6.2% fixed
- Interest-Only Period: 30 months
- Loan-to-Cost: 77%
- Market: Sheboygan Falls, WI
- Broker: Michael Hughes - Marcus & Millichap
The financing for this construction project was arranged by Marcus & Millichap Capital Corporation, with the loan secured by broker Michael Hughes, utilizing a regional lender to facilitate the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,700,000.00
Monthly NOI$58,000.00
Monthly Debt Service$54,989.92
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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